How to Calculate the Value on which GST should be Charged?

With the advent of GST on 1st July, 2017, an immediate task on your hands is to generate accurate invoices that meet the criteria laid down for GST tax invoices. An important component of a GST tax invoice is the tax collected on the supply….

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Branch Transfers – How to Calculate the Taxable Value

Branch transfer refers to the transfer of materials from one unit/location to another unit/location belonging to the same business entity. It is also known as Stock Transfers. Branch transfers are done for various reasons, such as: Transfer of semi-finished goods from the manufacturing unit to…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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How to Determine the Place of Supply in Case of Bill to-Ship to Transactions

In the Bill to – Ship to model, the billing and shipping of goods are done to two states and entities. In order to avoid the cascading of multiple taxes through the course of the transaction, the first sale will be taxable, and any subsequent…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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How is the Value of Goods & Services Determined under GST?

The value of all the goods and services consumed in an economy is arrived at based on certain metrics. In the current tax regime in India, this value is calculated in different ways. An overview is provided in the table below: Tax Value of goods/services…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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